Balance Transfer Savings Calculator
Calculate net savings from transferring high-cost credit card debt to a lower-interest card or bank balance transfer plan.
About Credit Card Balance Transfers
Balance transfer facilities offered by Indian banks (SBI Card, ICICI, HDFC) allow you to transfer existing debt to a new card at interest rates between 0% and 15% for a fixed promotional period.
Key Math Considerations
Transfer processing fees (typically 1% to 2% + 18% GST) must be factored in when calculating net interest savings.
Frequently Asked Questions
Do Indian banks offer 0% balance transfer promotions?
Some banks offer 0% interest for 3 to 6 months with an upfront processing fee (typically 1.5% to 3%).
Can you transfer balances between cards from the same bank?
No. Balance transfers are permitted only between cards issued by different banking institutions.
What happens when the promotional transfer period ends?
Any remaining unpaid balance converts to the bank's standard finance charge (typically 3.5% per month).
Is GST charged on the balance transfer processing fee?
Yes. An 18% GST applies to the transfer processing fee.
Calculate in three steps
- 1Enter your valuesUse the fields above and check the units shown beside each input.
- 2Run the calculationSelect Calculate to refresh the result with your latest values.
- 3Review or shareCompare the result, reset the form, print it, or share this page.